Sales Tax Assessment Amendment (Deficit Reduction) Act 1993

(44 of 1993)

An Act to amend the Sales Tax Assessment Act 1992, and for related purposes (Incorporating amendments up to Act No. 94 of 1995)

(Assented to 19 October 1993)

Part 1   Preliminary

1   Short title etc.

(1) This Act may be cited as the Sales Tax Assessment Amendment (Deficit Reduction) Act 1993.

(2) In this Act, Principal Act means the Sales Tax Assessment Act 1992.

2   Commencement

(1) Parts 1 and 2 are taken to have commenced on 18 August 1993.

(2) Part 3 and the Schedule commence on 1 July 1995.

Part 2   Amendments commencing on 18 August 1993

3   General definitions

Section 5 of the Principal Act is amended by inserting the following definition:

" motor vehicle depreciation limit means the motor vehicle depreciation limit that applies under section 57AF of the Income Tax Assessment Act 1936;".

4   Insertion of new section

After section 42 of the Principal Act the following section is inserted:

"42A Luxury motor cars

"(1) This section applies to a taxable dealing with goods covered by Item 1 in Schedule 6 to the Exemptions and Classifications Act, other than goods to which section 49 of this Act applies.

"(2) If the goods are a motor vehicle that is a passenger motor vehicle for the purposes of heading 8703 in Schedule 3 to the Customs Tariff and that is covered by that heading (or that would be covered by that heading if it were imported), the taxable value is reduced by:

43.242 * (Motor vehicle depreciation limit for the financial year in / which the taxable dealing happens)

"(3) If the goods are not covered by subsection (2), the taxable value is reduced by:

35.787 * (Motor cehicle depreciation limit for the financial year in / which the taxable dealing happens.")

5   Luxury motor vehicle for disabled person

Section 49 of the Principal Act is amended by omitting subsection (2) and substituting the following subsection:

"(2) The exempt part is 67.1% of the motor vehicle depreciation limit for the financial year in which the taxable dealing happens.".

6   Appendix A

Appendix A to the Principal Act is amended:

(a) by omitting "10%" (wherever occurring) and substituting "11%";

(b) by omitting "$10" (wherever occurring) and substituting "$11";

(c) by omitting $110 (wherever occurring) and substituting "$111";

(d) by omitting "$140" (wherever occurring) and substituting "$141".

7   Application of amendments

The amendments made by this Part apply to dealings with goods on or after 18 August 1993.

Part 3   Amendments commencing on 1 July 1995

8   Schedule

The Principal Act is amended as set out in the Schedule.

9   Application of amendments

The amendments made by this Part apply to dealings with goods on or after 1 July 1995.

Schedule   Amendments Commencing on 1 July 1995

1   Amendments Commencing on 1 July 1995

Appendix A:

(a) Omit "11%" (wherever occurring), substitute "12%".

(b) Omit "$11" (wherever occurring), substitute "$12".

(c) Omit "$111" (wherever occurring), substitute "$112".

(d) Omit "$141" (wherever occurring), substitute "$142".